ArisInfra Solutions files papers with Sebi to garner Rs 600 cr via IPO

ArisInfra Solutions Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO).

The proposed IPO is completely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).

The Mumbai-based company plans to mop-up about Rs 120 crore through a pre-IPO placement. If such placement is undertaken, the amount raised will be deducted from the total IPO size.

Proceeds of the issue will be used for funding the working capital requirements of the company, investment in subsidiary, Buildmex-Infra, for funding its working capital, purchase of partial shareholding from existing shareholders of its subsidiary, ArisUnitern Re Solutions Pvt Ltd, repayment of loan and for general corporate purposes.

Arisinfra Solutions is a B2B technology-enabled company, focusing on simplifying and digitizing the procurement process for construction materials.

Between April 1, 2021 and March 31, 2024, the company has delivered 10.35 million metric tonnes of construction materials, including aggregates, ready-mix concrete, steel, cement, construction chemicals and walling solutions, utilizing 1,458 vendors and serving 2,133 customers across 963 pin codes in various cities.

JM Financial, IIFL Securities and Nuvama are the book running lead managers to the public issue.